Polyacrylamide/poly(vinyl alcohol)/polyacrylamide/graphite interpenetrating network (PAM/PVA/PAM/G IPN) hydrogel is synthesized using a simple two-step polymerization method. The swelling behaviors of the hydrogel depend on the PVA, graphite, and crosslinker dosages, and swelling process is dominated by a relaxation of macromolecule chains. Owing to IPN structure, the hydrogel shows a good mechanical strength and thermal stability. On the other hand, the incorporation of graphite improves the conductivity of the hydrogel.